|Title||The microeconomics of hard times: A study of the effect of the 2002 Argentinean crisis on households and firms|
This is an empirical study of how consumers and firms adjust their behavior during hard economic times. I use micro household data from the 2002 Argentinean large devaluation. A large devaluation is mainly a big negative income shock, triggered by a highly inflationary process. The first chapter of this study identifies five stylized facts of the aftermath of the devaluation. The second chapter estimates the evolution of a multi-product demand system for the soft drink category, providing some relevant applications and policy implications. The third chapter studies the role of liquidity constraints in the purchasing pattern within a month.
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